According to an announcement by GetTaxi, the company is second only to Uber in revenues in the car-hailing smartphone app business, with an annual revenue run rate of $150 million, and the biggest player in this field outside of the US.

With today’s announcement of $25 million, GetTaxi said it would soon be closing a full $150 million funding round.

Uber recently secured a $1.2 billion investment for a valuation of $18.2 billion.

In its announcement, publicly traded Vostok Nafta refers to Get Taxi’s vibrant rival and to its positioning in the market. Although being “a classic example of a business with network effects,” says Vostok Nafta, the company believes the car-hailing apps niche is “expected to be one where the winners takes most rather than the winner takes all.”

“Although competition is ripe everywhere, GetTaxi is already the leading player in Russia and Israel, while seeing huge growth in the U.K. and US which in our view yields a potential valuation scenario north of $2 billion a couple of years down the road,” the company said.

About Venture Capital Dispatch

Produced by the editors of Dow Jones VentureWire, Venture Capital Dispatch tracks the fast-moving developments at the intersection of high-tech innovation and venture capital finance. Featuring the VentureWire reporting team in the Silicon Valley, New York, Boston and Shanghai tech centers, Venture Capital Dispatch provides insight into the newest start-ups and latest trends in venture capital investing. Write us at VCdispatch@dowjones.com. For more information on Dow Jones products covering venture capital and other financial markets, go to http://pevc.dowjones.com.